Critics were positive of the show, but also cognizant that it followed in the footsteps of Squid Game; nonetheless, they predicted it to be heavily discussed and to have a lasting impact.

Two organizations in cahoots, the cult-like New Truth Society and the gang-like Arrowhead group, gain power by playing on people's fears.

Except for the attorney, the core characters change in episodes 4–6, which take place 5 years later and focus on a television producer and his wife who have to struggle with the fact that their newborn baby is bound for Hell.

[14] On June 12, 2023, it was confirmed that Yang Dong-geun dropped out of the series for personal reasons, being replaced by Hong Eui-joon.

The website's consensus reads: "Summoned by the devilish imagination of writer-director Yeon Sang-ho, Hellbound leverages its terrifying concept to thoughtfully explore human fallibility.

"[34] Metacritic reported that Hellbound holds a weighted average score of 66 out of 100, based on five critics, indicating "generally favorable reviews".

[35] Nick Allen of RogerEbert.com gave the series a positive review, praising how the show mixed grounded horror with thoughtful discussions about sin.

[37] Ed Power of The Telegraph rated the series with 3 stars out of 5 and stated, "Hellbound unspools like a mix of Clive Barker, The Da Vinci Code and the iconic Japanese horror, Ring.

"[38] Kim Seong-hyeon reviewing for YTN wrote the "performances of the actors that make the hell of reality that the director solidly created in this way more smoothly".

"[40] Jeffrey Zhang of Strange Harbors graded the series with B+ and stated, "Hellbound finds a tricky moral tightrope underneath its phantasmagoria - a meticulously crafted and surprisingly introspective chiller even when it stumbles in its thematic juggling act".

[41] Stuart Heritage of The Guardian commenting on the comparison of the series with Squid Game wrote, "Hellbound is a truly exceptional drama wrapped in only the lightest of genre thrills.